The Equity Trader Course [With CDROM]

Too many people want to offer opinions about what they THINK is the trading and its tenants rather than coming to understand its components and how they create a the whole. Market Analysis [fundamental and technical], Behavioral Finance and Personal Psychology, Technology, and Liquidity are all apart of the equation of what makes a true professional successful. This book does not intend to teach you how to analyze a security -- there are plenty of scribes in the market place that do this; rather, it focuses on orders and order execution as they affect your trading. This is invaluable because it essentially gives you the foundation upon which you can become much more accurate at "reading the tape" because you know market tendancies. If you had an opportunity to know a sepcific order type gives you a greater chance of exiting a loosing position or capitalizing price action that is providing a discounted entry point, wouldn't you jump at it? That's where this book shines -- the actual mechanics of order entry and exiting [without basis toward certain markets or analysis {even setting profit targets}] ... you know... "trading"??? Knowing the difference between analysis, strategy development, and actual trading/trade execution makes you complete.

Seat-of-the-pants trading is history. Data from Neonet, an agency broker, show that over 28 percent of trades in U.S. stock markets are the result of automated trading strategies. The Boston-based Tabb Group forecasts 34 percent annual growth in global money managers' use of trading algorithms. So, in an industry increasingly governed by computerization, algorithmic trading, and fully electronic markets, an appreciation of the theory and operations of equity trading is critically important. A new book from Bruce Weber, Professor of Information Management at London Business School, along with Professor Robert A. Schwartz of Baruch College in New York, and Reto Francioni, CEO of Deutsche Börse, offers a comprehensive course in equity trading for professional and serious independent traders. The world's equity trading markets are large, complicated, and constantly evolving. In this new book, The Equity Trader Course, Professor Weber and his co-authors manage to give a comprehensive overview of the final, critical step in turning market ideas into realized profits. Even in the richest and deepest markets in the world, liquidity is costly, and hidden trading costs can erode profits. Salient advice in the book covers how to place orders optimally, how to react to volatility, and ways to avoid moving the market when buying or selling. The book includes insights into trading, liquidity pools, and markets, and tools to apply when using auctions, submitting limit orders, and measuring trader performance. The role of technical analysis and the advantages of algorithmic trading are covered. Each chapter of the book teaches both novice and experienced traders how to be adaptive and successful in their purchasing and selling decisions. The Equity Trader Course comes with a companion CD containing the TraderEx simulation, which walks readers through the dynamics of various market structures, and the mechanics of trading - from entering orders to monitoring the market, and profitably exiting a position. Created 1 June 2006